The recession may be long over, but consumers remain anxious about their expenses and savvy about finding the lowest prices. Catering to this mindset, the insurance provider Esurance is now offering an online tool, Fuelcaster, that predicts whether local gas prices will go up or down in the next 24 hours—users input a ZIP code and see a “buy” or “wait” recommendation (much as Kayak does with plane fares), along with the current prices at nearby gas stations. The company says Fuelcaster relies on “a proprietary algorithm that incorporates pricing signals from industry sources” and claims it’s the first such tool in the U.S. to predict gas prices.
In providing drivers with a free service that’s unrelated to the company’s core business of insurance but fits with its positioning as a value choice for digitally savvy consumers, Esurance illustrates how to put the consumer at the core of marketing initiatives. More brands are starting to focus on winning loyalty and engagement by using technology to address real consumer needs rather than taking a just-because-we-can approach to tech, which may briefly intrigue consumers but rarely creates real affinity.